Ardelyx (NASDAQ:ARDX) Reaches New 12-Month Low – Here’s What Happened

Shares of Ardelyx, Inc. (NASDAQ:ARDX) reached a new 52-week low on Friday. The company traded as low as $2.90 and last traded at $2.9350, with a volume of 679,933 shares trading hands. The stock had previously closed at $2.99.

More Ardelyx News

Here are the key news stories impacting Ardelyx this week:

• Positive Sentiment: TD Cowen initiated coverage with a “Strong Buy” rating; it also recently reaffirmed a Buy rating. HC Wainwright maintained its Buy rating and $13 price target. Read more: TD Cowen coverage
• Positive Sentiment: Ardelyx completed enrollment in the Phase 3 ACCEL trial of IBSRELA for adults with chronic idiopathic constipation, a development milestone ahead of future trial results. Read more: ACCEL trial enrollment
• Neutral Sentiment: Q3 EPS of $0.00 beat the consensus forecast for a $0.02 loss, while revenue of $127.66 million was slightly below estimates of $127.99 million. Revenue grew 21% year over year. Read more: Q3 results
• Negative Sentiment: Multiple law firms publicized a pending securities class action, with a November 16 lead-plaintiff deadline. The lawsuit alleges Ardelyx misrepresented payer access and reimbursement barriers affecting IBSRELA and XPHOZAH; these are allegations, not established findings. The legal overhang may weigh on sentiment. Read more: Class action notice
• Negative Sentiment: HC Wainwright raised its Q4 2026 and FY2026 EPS estimates, but sharply cut forecasts for FY2027 ($0.06 from $0.35) and FY2029 ($1.18 from $1.56), with smaller reductions for FY2028 and FY2030. Those longer-range cuts temper the near-term estimate improvements.

Wall Street Analyst Weigh In

ARDX has been the subject of several research analyst reports. HC Wainwright reiterated a “buy” rating and issued a $13.00 price objective on shares of Ardelyx in a research report on Friday, August 7th. Zacks Research upgraded Ardelyx from a “strong sell” rating to a “hold” rating in a report on Friday, October 16th. Citigroup lowered their target price on Ardelyx from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Monday, August 10th. TD Cowen started coverage on Ardelyx in a report on Wednesday. They issued a “strong-buy” rating for the company. Finally, BTIG Research cut their price target on Ardelyx from $17.00 to $14.00 and set a “buy” rating for the company in a report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.90.

Ardelyx Trading Down 1.2%

The company has a market cap of $742.80 million, a P/E ratio of -13.39 and a beta of 0.79. The company has a quick ratio of 3.15, a current ratio of 3.45 and a debt-to-equity ratio of 1.54. The business has a 50-day moving average price of $3.37 and a two-hundred day moving average price of $5.26.

Ardelyx (NASDAQ:ARDX) last issued its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The firm had revenue of $120.88 million for the quarter, compared to analyst estimates of $121.03 million. Ardelyx had a negative net margin of 11.85% and a negative return on equity of 35.30%. The company’s revenue was up 34.3% compared to the same quarter last year. During the same period last year, the company earned ($0.08) EPS. On average, analysts predict that Ardelyx, Inc. will post -0.20 EPS for the current year.

Insider Activity at Ardelyx

In other news, insider John Bishop sold 19,750 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $3.86, for a total value of $76,235.00. Following the transaction, the insider owned 317,095 shares of the company’s stock, valued at approximately $1,223,986.70. This trade represents a 5.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Raab sold 58,574 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $3.86, for a total transaction of $226,095.64. Following the completion of the transaction, the chief executive officer directly owned 1,619,792 shares in the company, valued at $6,252,397.12. This trade represents a 3.49% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 126,059 shares of company stock worth $486,588. Insiders own 5.30% of the company’s stock.

Institutional Trading of Ardelyx

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of Ardelyx during the second quarter worth $119,874,000. Jupiter Topco LLC bought a new stake in Ardelyx in the second quarter valued at about $27,043,000. AIGH Capital Management LLC acquired a new position in Ardelyx in the second quarter valued at about $16,320,000. Bank of America Corp DE lifted its stake in Ardelyx by 5.8% in the first quarter. Bank of America Corp DE now owns 2,336,994 shares of the biopharmaceutical company’s stock valued at $13,999,000 after buying an additional 128,301 shares during the period. Finally, Eversept Partners LP lifted its stake in Ardelyx by 30.0% in the first quarter. Eversept Partners LP now owns 2,229,446 shares of the biopharmaceutical company’s stock valued at $13,354,000 after buying an additional 514,317 shares during the period. Institutional investors own 58.92% of the company’s stock.

Ardelyx Company Profile

Ardelyx, Inc is a biopharmaceutical company focused on developing and commercializing therapies for gastrointestinal and cardiorenal diseases. The company’s platform is centered on regulating ion transport in the gut, with the goal of addressing conditions that are inadequately served by existing treatments.

Ardelyx’s marketed products include IBSRELA (tenapanor), an oral treatment for adults with irritable bowel syndrome with constipation, and XPHOZAH (tenapanor), a therapy designed to reduce serum phosphorus in adults with chronic kidney disease on dialysis who have an inadequate response to, or are intolerant of, phosphate binders.